Indiana § 21-16-5-1 - Secondary market for guaranteed student loans; establishment of corporation
Full text of Indiana Indiana Code § 21-16-5-1 — Secondary market for guaranteed student loans; establishment of corporation, with citation guidance and answers to common questions.
§ 21-16-5-1. Secondary market for guaranteed student loans; establishment of corporation
Sec. 1. The governor may request, on behalf of the state, the establishment of a private nonprofit corporation, with a bipartisan board of directors that meets the requirements of section 1.5 of this chapter, to serve as a secondary market for education loans. If a private nonprofit corporation is established, the governor may designate the corporation to:
(1) serve as the secondary market for education loans; and
(2) act as an eligible lender under a federal program.
The corporation must satisfy the conditions imposed by sections 3 through 10 of this chapter, and its articles of incorporation must provide that upon the corporation's liquidation, any surplus funds must be paid to the state.
[Pre-2007 Higher Education Recodification Citation: 20-12-21.2-2(a).]
As added by P.L.2-2007, SEC.257. Amended by P.L.224-2023, SEC.6.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-16-5-1
What does Indiana Code § 21-16-5-1 cover?
Section 21-16-5-1 ("Secondary market for guaranteed student loans; establishment of corporation") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 21-16-5-1?
A common citation format is "Indiana Code § 21-16-5-1" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 21-16-5-1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.